Tata Capital Invests USD 20 Million in Orbicular Pharmaceutical

Mumbai, May 31 (PTI) Tata Capital on Friday said one of its arms has invested USD 20 million in Orbicular Pharmaceutical Technologies for an undisclosed stake.

Tata Capital Healthcare Fund II has made the investment in the Hyderabad-based specialty pharmaceutical company and the proceeds will be utilised for accelerating product development, as per a statement.

The statement said the USD 60 billion specialty generics industry is expanding rapidly driven by increasing demand for cost-effective alternatives to complex and high-cost branded medications, and Orbicular has a pipeline of niche products in the specialty generics space catering to the demand.

"This investment reinforces our fund's core philosophy of identifying the big shifts in the industry and being a "capital plus" partner to our companies," the fund's Managing Partner Visalakshi Chandramouli said.

"Having positioned Orbicular as a differentiated specialty pharmaceutical company in the complex generics space, the investment will further strengthen our global partnerships," the company's Managing Director M S Mohan said.